A goal on 40 minutes from Joey Barton put City into the lead after an event free half in Bangkok.
But just after the break Kevin Davies levelled with a powerful left footed effort into the roof of the net from a Nolan cross.
The game went to penalties with Bolton coming out on top 5-4 winners. Okocha, Diouf, Vaz Te, Fadiga and Campo all scored for Wanderers with Bradley Wright-Phillips missing the crucial 5th penalty for local rivals City.
Team:
Jaaskelainen, Hunt (Okocha), Gardner, N'Gotty (Jaidi), Ben-Haim (Fojut), Campo, Nolan (Diouf), Speed (O'Brien), Pedersen (Fadiga), Davies (Smith), Vaz Te.
Subs Not Used:
Howarth, Walker, Sinclair